My ex and I bought a house together in 2014. I put down $34,933, and he put down $0. I know we should have made an agreement at the time, so I'm definitely paying for it now. We split the mortgage in half until September of 2015 when he and his girls moved out. I stayed, and have continued to pay the mortgage alone. Including the month of May, I have put in $37,433 total mortgage. He has put in $15,098. He also owes me $8,738 which has been agreed on and I want it included in doing this math. I placed the house on the market 8 days ago for $407,900. We have $291,000 left on mortgage. How do we split this. He claims he should get $20,000. Only mistake was to put his name on the papers. Thank you for your help!
Updated over 5 years ago
We were never married, just my boyfriend
This is a question for an attorney who practices family law in the jurisdiction in which you reside (Texas).
Here, record keeping would be the crux of your case. You would need to demonstrate, through detailed records, that the intention from the outset was that each party contribute 50%. With no agreement in writing, or record history, the marital property act would likely dictate the asset value at the time of legal separation be divided 50/50 (the debt as well) regardless of the amount he had contributed.
Your best case is that you'd get the house and he'd pay for it, or the other way around, it's negotiable and your attorney can tell you of what your circumstances may allow. I assume the property was acquired during the marriage, that's 50/50, then you can slug it out as to who did what. I can also say it may not look good for him just packing up and leaving and not paying any joint obligations! See an attorney and good luck :)
Just to clarify, sorry. We were never married. Just boyfriend
If he only wants 20k, make sure you subtract the 8k from that and let him walk. If he is on the note, he could probably ask for and get 50/50 of the proceeds of the sale, so I wouldn't push it.
What would Judge Judy say?
Sounds good to me. For serenity, stroke the check and chalk up the little bit extra to shared appreciation. A reasonable deal can quickly turn into a very expense and tolling attorney battle. Consider yourself lucky to get this @Christina Babayan !
There are lots of bf/gf partners looking to invest together. Please spread the word!
@Christina Babayan Look at your deed see how you took title.. if you took title as tenants in common .. then you both have an undefined 50% interest in the property and this other math spat is what needs to be settled.. the proceeds check will be made out to both of you .. if your arguing over the proceeds.. When you say he is on the paper work ... you mean you used his credit and finacials to qualify for the loan.. and he is as stated an owner of record.
If you can't work it out.. a mediation service may work well for you.. your not the first one to go through this stuff.. you also may be deem married in common law.. depending on your state so the break up would be handled just like you were married. Just don't run up a bunch of attorney bills fighting out a measly 8k... you could easily both exceed that if you lawyer up and fight it out.
Thank you all so very much for your input! Very much appreciated!